Business
Ubah, Ibrahim, Babalakin, Dariye top AMCON’s list of 105 debtors (See full list)
The Asset Management Corporation of Nigeria (AMCON), in its recently released list of debtors, has indicted some business men, former and serving political office holders in the country.
The list, which followed AMCON’s request seeking the support of relevant agencies to ensure that obligors pay up their debts, comprises 105 names of debtors that failed to negotiate successfully with the corporation.
In July, AMCON Managing Director, Ahmed Kuru, had vowed to publish the list of delinquent debtors and business managers owing the corporation, noting that AMCON would soon take over the assets of the defaulters.
In the AMCON’s newly published list, Capital Oil and Gas Industries Limited owned by Ifeanyi Ubah, topped with an exposure of N115 billion. The company was trailed by NICON Investments Limited owned by Jimoh Ibrahim, with N59 billion exposure.
Bi-Courtney Limited owned by Wale Babalakin has an exposure of over N40 billion; Josephdam & Sons Limited owned by the Kuteyi family with N39 billion exposure; and Tinapa Business Resort of Cross River State Government, with N30 billion exposure.
Others names in the list include the former Minister of Power, Barth Nnaji, with other main promoters of Geometric Power with an exposure of N29 billion. Also, Babalakin’s name reappeared as the main promoter of Roygate Properties, owing over N28 billion.
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In the same vein, the exposure of Shell Development Petroleum Company, promoted by Shell Staff, was put at N26 billion, while the former governor of Enugu State, Chimaroke Nnamani, was named with a debt of N42 billion owed to AMCON under the names of Iorna Global Resources, Sammy Beth Interbiz Limited, Camden Resources Limited, Riverside Logistics Limited and Rainbownet Limited.
The corporation also named the Olofa of Offa, Gbadamosi Muftau, with a debt of N12 billion under Zarm Stores Limited, while a former Chief Executive Officer (CEO) of Intercontinental Bank, Erastus Akingbola, was named with over N10 billion exposure under the company Octopus Trust Nigeria Limited.
Senator Buruji Kashamu, was named with a debt of N13.015 billion, a former governor of Plateau State, Joshua Dariye, is also on the list. The corporation noted that the former governor, who was recently sentenced to 14-year imprisonment for corruption charges, owes N6.8 billion.
Senator Usman Nafada, who is the PDP governorship candidate in Gombe state in the 2019 polls, was included in the list with a debt of over N400 million.
According to AMCON, the names were published pursuant to its statutory mandate and in compliance with a Directive by the Central Bank of Nigeria (CBN), having exhausted all avenues of ensuring that the debtors propose acceptable resolution terms.
“Nevertheless, the Corporation is still open to amicable resolution of these debt within a reasonable time, failing which it shall continue to exercise all powers as provided by law to recover the debts,” it said.
FULL LIST
S/N | Obligor Name | Main Promoter(s) | Current Exposure (Naira) |
1 | Capital Oil & Gas Industries Limited | Ifeanyi Ubah | 115,952,152,265.92 |
2 | NICON Investments Limited | Jimoh Ibrahim | 59,544,633,980.31 |
3 | Bi-Courtney Limited (MMA2) | Wale Babalakin (SAN) | 40,798,422,374.02 |
4 | Josepdam & Sons Limited | Late Mrs. Josephine Damilola KuteyiSaheed Kuteyi
Ganiyu Kuteyi |
39,056,674,951.55 |
5 | Tinapa Business Resort | Cross River State Government | 36,006,319,844.68 |
6 | Home Trust Savings | Chukwukadibia AjaegbuFunmu Ademosun | 30,626,243,344.71 |
7 | Geometric Power Limited | Prof. Barth NnajiNnaji Agatha
Obibuaru Eluma Anike Paul Nwobodo Benjamin Chukwuemeka Dozie Chijioke Akpe Austine Nnaji Okechukwu UBA Trustees Limited Kunoch Limited Diamond Capital & Financial Market Limited |
29,844,500,896.77 |
8 | Roygate Properties Limited | Wale Babalakin (SAN)Agumadu John
Alarape Olabode Okhaleke Ndudi |
28,137,176,532.32 |
9 | Shell Development Petroleum Company – West Multipurpose Co-operative Society Limited (SPDC) | Shell Staff, represented by Ikponmwosa Ogiemuda | 26,474,541,188.17 |
10 | Anyiam Osigwe Limited | Anyiam-Osigwe Dorothy Chinyere | 20,523,322,350.29 |
11 | Platinum Capital | Obire RichardFrancis Atuche | 20,378,820,507.19 |
12 | Flotsome Investment Limited | Oboden IbruTejiro Ibru | 20,218,703,550.96 |
13 | Lonestar Drilling | Late Chief IdisiMargaret Idisi | 20,207,979,803.22 |
14 | Petrologistics Limited | Ugoji Egbujo | 19,576,962,565.35 |
15 | Lorna Global Resources | H.E. Chimaroke Nnamami | 18,919,109,352.85 |
16 | Hosanna Properties Limited | Anionye ChikaObi Ike C. | 18,059,895,396.27 |
17 | Minaj Holdings Limited | Ajegbo Mike NnayeluchudihuLuke Chidi Chudihuilogu
Miller Gregrey Ethridge Kyle Attueyi Joe Oladele Afolabi Okpere Kisito Kokoricha Paul |
17,306,900,257.66 |
18 | Afrijet Airlines Limited | Inoelle Willam BarryCarr Collin | 13,122,022,439.57 |
19 | Petroleum Brokers Limited | Wilcox Awopuolagha | 13,076,314,937.26 |
20 | Hotel De Island; Kasmal Properties; Island Autos & Nacoil | Kashamu Prince Buruji | 13,015,595,907.67 |
21 | Zarm Stores Limited | Gbadamosi Muftau, The Olofa of Offa | 12,410,560,226.18 |
22 | Tak Continental Limited | Thomas Akoh Etuh | 11,585,755,562.89 |
23 | Netlink Digital Television | Fashewe OyewoleVarderpuije Ahmed | 11,550,782,130.79 |
24 | Mobil Workers (EKET) Multipurpose Cooperative Society | Mobil Workers, represented by Okeke Eze (legal practitioner) | 11,504,121,133.06 |
25 | DWC Drilling Limited | Etheridge KyleJohn Ayeke | 11,363,388,024.05 |
26 | Sammy Beth Interbiz Limited | H.E. Chimaroke Nnamani | 11,017,336,899.00 |
27 | Ferdinand Oil Mills | Chief Ferdinand Anyaoha Anghara | 10,855,175,005.53 |
28 | Octopus Trust Nigeria Limited | Erastus Akingbola | 10,175,717,163.07 |
29 | Avian Spec | Femi JamesFunmi Ayorinde | 7,619,760.034.02 |
30 | Brooke Investments Limited | Chief S.I. AdegbiteAdegbite Adewale Michael
Adegbite Ademola Olumide Sofela Michael Olufemi |
7,341,118,227.21 |
31 | Resource Intermediaries Limited | Soji Oyawoye (MD/CEO)Ebun Bamigboye
Weyinmi Jemide Ido Ohiwere |
7,282,308,754.08 |
32 | Jummai Mahmud | Senator Joshua Dariye | 6,823,110,429.13 |
33 | Genprogetti Nigeria Limited | Nnamdi O. OkoyeCharles Umeadi | 6,637,593,140.34 |
34 | Ray Gold Silver Plus Limited | Oboden IbruTejiro Ibru | 6,392,813,914.61 |
35 | Camden Resources Limited | H.E. Chimaroke Nnamani | 5,875,022,498.73 |
36 | Riverside Logistics Limited | H.E. Chimaroke Nnamani | 5,874,161,281.46 |
37 | Robo Michael Limited | Kassabali Samir IbrahimEgirani Arobo
Egirani Olotu |
5,837,512,139.51 |
38 | Lexcap Partners | Albert OkumagbaChibundu Edozie | 5,696,111,908.02 |
39 | Osigwe Foods & Agro Industries | Moh’d Anselm KayodeRaji A. Usman | 5,648,190,385.41 |
40 | Rangk Limited | Kanu Godwin Ndubuisi | 5,390,589,104.93 |
41 | Afro-Arab Investment Limited | Baba-Ahmed MoufitahBaba-Ahmed Muna Beitah | 5,340,204,984.21 |
42 | Dormanlong Engineering Limited | Austen Peters | 4,700,000,000.00 |
43 | Abasa Nigeria Enterprises Limited NPK1 A | Ezuma Innocent Ozoemena | 4,666,999,131.41 |
44 | Lawal Obelawo Plastics Industries Limited (LOPIN) | Prince Lawal Olaosebikan YesufuRamota Lawal | 4,361,717,794.63 |
45 | Eres N V (Nig.) Limited | Chief Pius Akinyelure | 4,171,546,113.09 |
46 | Al-Kahf Motorcycle Company Limited | Shehu BadamasiSafiya M. Badamasi | 4,067,369,214.72 |
47 | Madunka Motorcycle Company Limited | Abdullahi A. HaidoZainab A. Haido | 3,561,115,889.09 |
48 | Terminal Zero | Obadina GbengaNiyi Oyedele | 3,318,675,426.60 |
49 | Ocean Deep Properties Limited | Ray Nduka J. OkpuRay Ufoma Okpu | 3,075,367,362.75 |
50 | Claremount Management Limited | Okobi Paul UcheAkpan Patrick | 2,944,490,078,53 |
51 | Ena-Bell Limited | Ojo Osamuede BelleOjo Osamuede Enahoro | 2,910,142,971.76 |
52 | Omega Sunshine Ventures Limited | Segun AgbetuyiTolulope O. Fadahunsi | 2,763,085,587.14 |
53 | Tuns Farm Nigeria Limited | Olatunde Adekunle BadmusJoseph Zopy | 2,738,973,788.06 |
54 | Nakem Oil & Gas Company Limited | Alebe Nathaniel UzeziAlebe O. Gift | 2,718,933,557.79 |
55 | Hyacinnth U.F. Enuha | Hyacinth Uzu-Fela Enuha | 2,710,078,325.77 |
56 | Ray Okpu | Ray Okpu | 2,673,346,469.66 |
57 | Bao Yao Future Lex | Garba Idris AbubakarYaozhang Shen | 2,669,859,056.59 |
58 | Aquitane Oil and Gas Limited | Ikechukwu Okolo | 2,640,490,132.20 |
59 | Waziri B. Mustapha | Alhaji Waziri B. Mustapha | 2,612,458,766.09 |
60 | Riggs Securities Limited | Yomi TokosiTokosi Tokumbo
Frederick Fasheun Ralph Obiha Awosika Kola |
2,601,085,572.34 |
61 | Likam Nigeria Limited | Alhaji Ibrahim HamzaYashuwah Hamza | 2,525,755,239.96 |
62 | Safe Nigeria Limited | Itohan Ogieva-OmosighoOsa Ogieva-Omosigho | 2,369,063,554.93 |
63 | Woksons International Limited | Chief William OkiOke E. Cynthia | 2,326,577,517.14 |
64 | Travaux Investments Limited | Lambo JumokeOgutuga Kemi
Sheri William Folarin Rotimi Williams |
2,303,470,835.43 |
65 | Omega Savings and Loans | Agbetuyi SegunAdeniyi A. Adeuyiwa | 2,283,749,521.09 |
66 | Bellview Airlines Limited | Kayode OdukoyaAVM Emmanuel Ombu (Rtd) | 2,258,232,021.87 |
67 | Sage Int. Nig. Limited | Atikoro UyovbukerhiMaureen Uyovbukerhi | 2,241,719,528.00 |
68 | Van Vliet Trucks Limited | Nol Van VlietAdetunmbi Dayo
Kome Agodo |
2,136,216,694.00 |
69 | Baba Haruna Ibrahim | Baba Hruna Ibrahim | 2,076,544,891.02 |
70 | Abbey Lincoln Limited | Awoleye T. AbisodunFrancis T. Abisodun | 2,065,489,600.50 |
71 | Shell Staff West | Shell Staff, represented by Ikponmwosa Ogiemuda | 2,004,956,109.70 |
72 | U.L.O. Consult, Ogbeogonogo | Chief Uche Luke Okpuno | 1,984,819,888.82 |
73 | Variations Industries Limited | Nwazulu Prince DennisNwazulu Protus | 1,969,012,064.04 |
74 | Tuns Holdings Limited | Olatunde Adekunle BadmusJoseph Zopy | 1,965,039,873.11 |
75 | Shelter Development | Bayero Usman Ja’afaruIbrahim Isa Wada | 1,875,156,385.12 |
76 | Lynq Communications | Joe Obiora UdeagbalaSylvia Udeagbala | 1,847,974,990.21 |
77 | Petlib Envi-Chem Ser | Ibiam EleanyaEEkwo Eteakamba Edem | 1,706,415,936,54 |
78 | Amsalco Ind. Limited | Aminu SalehBashir Aminu Saleh | 1,646,184,931.54 |
79 | Aminu Saleh Alhaji | Aminu Saleh Alhaji | 1,630,812,798.76 |
80 | Chevron Oil Staff Multipurpose Cooperative | Chevron Staff | 1,595,966,334.11 |
81 | Micro Products Int’l Nig. Limited | Chris Anugwolu | 1,568,839,810.06 |
82 | The Franklin Hotel & Suites | Frank Omosigo | 1,566,984,396.77 |
83 | Titanium Oil and Energy Limited | Acholonu PatrickEkezie Chief Ralph | 1,564,295,090.70 |
84 | Alcomp Computers Limited | Engineer Emeka Vitus EzenwanneGloria Uzoamaka Ezenwanne | 1,559,711,000.55 |
85 | Tina Stores Limited | Matthew NmeziClementina Nmezi | 1,558,068,328.38 |
86 | Shemofeyo Ventures Limited | Sheba A. Acholonu PatrickModupe Olorunfemi | 1,549,586,200.57 |
87 | Westoil Petroleum Services Limited | Bidemi H. FahnHamdalat Ajayi
Omotayo Fahn |
1,540,787,598.44 |
88 | Ohzed Oil and Gas Company Limited | Stella O. DikeEngr Matthew A. Dike | 1,516,937,763.45 |
89 | KDC Construction Limited | Alh Waziri B. Mustapha | 1,480,572,356.42 |
90 | Deep Sea Oil Gas Limited | Itelima Steve YeowumaItelima Patricia Yeowuma | 1,386,834,554.36 |
91 | Ascot Fabricators and Constr. Limited | Henry E. ImasekhaJoey Chuma Obue | 1,374,274,319.42 |
92 | I.C.M.G. Limited | Mike Osime | 1,339,507,291.77 |
93 | Huf Engineering Nigeria Limited | Enuha Hyacinth Uzu FelaEnuha Carol | 1,288,402,095.13 |
94 | Integral Petrochemicals Limited | Oludare O. OlagokeAdeyemi Y. Olagoke | 1,269,386,433.60 |
95 | Unicorn Place Leisure Services Limited | Ike Nwabuoku | 1,256,178,425.11 |
96 | Ibika Investment & Property Limited | Fashina Kofoworola OlakunleFashina Mabayomije Omololu | 1,230,763,959.94 |
97 | Assorted Foods & Beverages | Ifabiyi AdemolaIfabiyi Eyitope
Ifabiyi Toyin |
1,185,194,335.36 |
98 | Al-Fil Petroleum Company Limited | Alao IdrisAlao Abdullatif | 1,151,788,405.05 |
99 | Primeview Investment and Property | Gabriel OreneEsule George | 1,119,804,330.77 |
100 | Merepainti Nigeria Limited/BPT Equipment | Engr Mohammed Nura Khalil | 987,172,183.55 |
101 | Rainbownet Limited | H.E. Chimaroke Nnamani | 804,985,922.59 |
102 | Paveblocks Nigeria Limited | Alh Waziri B. Mustapha | 633,128,165.50 |
103 | Honourable Adetunji Adeniyi | Honourable Adetunji Adeniyi | 491,220,414.05 |
104 | Engr. Sarki Labaran | Engr. Sarki Labaran | 471,402,281.70 |
105 | Senator Usman Bayero Nafada | Senator Usman Bayero Nafada | 409,502,652.84 |
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